Working Around the Cannabis Cash-Only Business Problem

The crypto industry is trying to solve the cash-only model in cannabis…

The coronavirus pandemic has created a lot of unique challenges, which has caused businesses to change how they operate.

Two cannabis dispensaries are also testing out something new during this time – the use of cryptocurrency payment options. The legality behind it is a little murky and how the technology behind it works is complicated.

But it’s an attempt to solve a big problem; cannabis dispensaries are cash-only businesses.

No one really thought about this before the coronavirus pandemic, but there is a lot of close contact required for cash payments. Customers pulling money out of an ATM machine. Handing that money to a dispensary employee to put into a cash register. The dispensary owner handing that cash to a vendor.

Of course, eventually, cannabis companies will be able to accept credit card payments. So, the cannabis cryptocurrencies that are trying to solve current problems in the cannabis industry will not be relevant or needed.

However, we know that many of the members of the National Institute for Cannabis Investors have a high-risk tolerance and are also looking for the best ways to profit from cryptocurrency.

That’s why we wanted to let you know about the 2020 Bitcoin Masterclass launched by Advisory Board member Michael Robinson. Back in 2013, Michael was on CNBC and FOX Business, talking about Bitcoin.

He knew the potential behind Bitcoin and blockchain technology then, and you can’t afford to miss what his latest research says about the profit potential in cryptocurrencies today.

I am a medical Marijuana patient . I make most of my purchases at a Columbia care dispensary. I was able to open a charge account for use in their dispensaries. ( Like any other store card ) to my knowledge they are the only company offering charge accounts to customers and they have done it on a nationwide level. My understanding is that this has not only increased the number of sales, but also increased the average sales transaction. I’m surprised that other providers haven’t jumped on the band wagon.